First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Sees Significant Drop in Short Interest

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 19,155 shares, a drop of 44.6% from the September 15th total of 34,580 shares. Based on an average daily volume of 13,622 shares, the short-interest ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are short sold.

First Trust Multi Cap Growth AlphaDEX Fund Stock Performance

Shares of FAD stock traded down $4.79 during mid-day trading on Friday, hitting $174.98. The company’s stock had a trading volume of 12,218 shares, compared to its average volume of 13,023. The stock has a market cap of $577.43 million, a price-to-earnings ratio of 25.26 and a beta of 1.17. First Trust Multi Cap Growth AlphaDEX Fund has a 52-week low of $150.01 and a 52-week high of $200.22. The business has a 50-day moving average price of $184.53 and a 200 day moving average price of $183.61.

First Trust Multi Cap Growth AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a $0.0516 dividend. This is a negative change from First Trust Multi Cap Growth AlphaDEX Fund’s previous quarterly dividend of $0.0711. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.21 dividend on an annualized basis and a yield of 0.1%.

Hedge Funds Weigh In On First Trust Multi Cap Growth AlphaDEX Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investors Research Corp bought a new stake in shares of First Trust Multi Cap Growth AlphaDEX Fund in the third quarter worth approximately $28,000. Advocate Investing Services LLC lifted its position in First Trust Multi Cap Growth AlphaDEX Fund by 223.9% during the first quarter. Advocate Investing Services LLC now owns 434 shares of the company’s stock valued at $69,000 after purchasing an additional 300 shares during the period. Western Wealth Management LLC purchased a new stake in First Trust Multi Cap Growth AlphaDEX Fund in the first quarter worth approximately $82,000. Rockefeller Capital Management L.P. boosted its holdings in First Trust Multi Cap Growth AlphaDEX Fund by 66.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 834 shares of the company’s stock worth $135,000 after purchasing an additional 334 shares during the last quarter. Finally, Serenity Investment Advisors bought a new stake in First Trust Multi Cap Growth AlphaDEX Fund in the 1st quarter worth approximately $173,000.

About First Trust Multi Cap Growth AlphaDEX Fund

First Trust Multi Cap Growth AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Defined Multi Cap Growth Index (the Index). The Index is an enhanced index created and administered by Standard & Poor’s, which selects stocks from the S&P Composite 1500/Citigroup Growth Index. Standard & Poor’s constructs the Index by employing the AlphaDEX stock selection methodology to rank the stocks from the three component indices that comprise the S&P Composite 1500/Citigroup Growth Index, which are the S&P 500/Citigroup Growth Index, the S&P MidCap 400/Citigroup Growth Index and the S&P SmallCap 600/Citigroup Growth Index.